In microeconomics, price helps determine both quantity supplied and quantity demanded. Which other factors can impact each by causing a shift to occur?
Answer
A
Quantity supplied is determined by producer behavior, and quantity demanded is determined by desire for the product.
B
Quantity supplied is determined by consumer behavior, and quantity demanded is determined by aggregate demand.
C
Quantity supplied is determined by production costs, and quantity demanded is determined by desire for the product.
D
Quantity supplied is determined by production costs, and quantity demanded is determined by producer behavior.